Fed Ahead • REIT Earnings • Spooky Economic Data

October 31, 2022 | Hoya Capital

Fed Ahead • REIT Earnings • Spooky Economic Data Real Estate Daily Recap Oct 31 Written By U.S. equity markets slumped Monday- but held onto sizable monthly gains- as investors eyed a frenetic week of economic data, corporate earnings reports, and the Federal Reserve interest rate decision. Coming off its best two-week advance since November 2020, the S&P 500 declined 0.7% today while the tech-heavy Nasdaq 100 dipped 1.2%. The Mid-Cap 400 and Small-Cap 600 finished flat.

Real estate equities were mixed today ahead of the busiest week of earnings season. Following its best week since November 2020, the Equity REIT Index declined 0.1% while Mortgage REITs declined 0.7%. The busy week of economic data got off to a "spooky" start today with Chicago PMI falling to the lowest-level since June 2020 while the Dallas Fed Manufacturing Survey was similarly weaker-than-expected, falling for a sixth consecutive month.

Apartment List released their National Rent Report this morning which showed a second-straight monthly decline in rents in October - marking a continued cooldown from the record-high pace of rent increases seen in early 2022. Income Builder Daily Recap U.S. equity markets slumped Monday - but held onto sizable monthly gains for October - as investors eyed a frenetic week of economic data, corporate earnings reports, and the Federal Reserve interest rate decision.

Coming off its best two-week advance since November 2020, the S&P 500 declined 0.7% today while the tech-heavy Nasdaq 100 dipped 1.2%. The Mid-Cap 400 and Small-Cap 600 were each roughly flat. Real estate equities were mixed today ahead of the busiest week of earnings season with nearly 100 REITs reporting results. Following its best week since November 2020, the Equity REIT Index finished lower by 0.1% today while the Mortgage REIT Index declined 0.7%.

Homebuilders declined nearly 2% following a strong rebound last week. The busy week of economic data got off to a "spooky" start today with Chicago ...